Economies of scale describes situations where the joint production of two or more goods results in lower marginal costs than their separate production.
Economies of scale differ from economies of scale in that the former means producing many different products together to reduce costs, and the latter means producing more of the same product to reduce costs through efficiency.
Economies of scale can result from goods that are by-products or additions to production, goods that have additional manufacturing processes, or goods that use common resources for production.
Evaluation costs are the fees a company pays for discovering defects in its products before they are delivered to customers; they are a form of quality control.
The articles of association can be seen as a user manual for the company, defining its purpose and outlining the methodology for carrying out the necessary day-to-day tasks.
When a company or government agency buys or leases existing manufacturing facilities to launch new manufacturing activities, this is called an investment in existing facilities.
The Code of Ethics sets out the ethical principles of the organization and the best practices to be followed with respect to honesty, integrity and professionalism.